Money

Commerce SSS1 Third Term

WEEK 10

Money

Performance Objectives

The student should be able to:

     1. Define money.

     2. Describe the evolution of money.

     3. State the functions of money.

     4. List the qualities/characteristics of money.

     5. List the forms/types of money.

Content

Definition of Money

Money is anything that is generally accepted as a medium of exchange and in the settlement of debts. Money can also be defined as anything that is generally accepted as a means of payment.

Evolution of Money

Money originated as a result of the various difficulties that arose from trade by barter. In the olden days, different commodities served as money in different countries. Cattle, cowries, shells, tobacco, salt…